Snap-on Earns $1.87 per Share

This morning, Snap-on (SNA) reported Q1 earnings of $1.87 per share. That was five cents better than estimates. Revenues increased 5.1% to $827.8 million which was below consensus of $834.42 million.

“We’re pleased to begin 2015 with encouraging first quarter results that included broad-based organic sales growth of 9.9% and a 15.4% increase in diluted earnings per share,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “We believe these results confirm Snap-on’s unique capabilities in providing valued productivity solutions to a growing range of professional customers performing critical tasks in workplaces of consequence. Additionally, we achieved a 120 basis point improvement in operating margin before financial services, further demonstrating our ability to realize ongoing benefits from our Snap-on Value Creation Processes. Finally, this continued progress along our defined runways for both coherent growth and operating improvement would not be possible without the capability and commitment so evident across Snap-on, and I thank our franchisees and associates worldwide for their significant contributions and extraordinary effort.”

The shares have been as high as $152 this morning.

Posted by on April 23rd, 2015 at 9:55 am


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